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Daily Newsletter, Wednesday, 07/07/2004

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PremierInvestor.net Newsletter                Wednesday 07-07-2004
                                                    section 1 of 2
Copyright (c) 2004, All rights reserved.
Redistribution in any form is strictly prohibited.

The entire newsletter is best viewed in COURIER 10 for alignment
=================================================================

In section one:

Market Wrap:  Coming and Going
Watch List:   Brokers, Miners, Oil and more

Trading Ideas
  Value Plays With Bullish Signals
  Breakout to Upside (Stocks $5 to $20)
  Breakout to Upside (Stocks over $20)
  Breakout to Downside (Stocks over $20)
  Recently Overbought With Bearish Signals (Stocks over $20)


===============================================================
MARKET WRAP  (view in courier font for table alignment)
===============================================================
     07-07-2004            High     Low     Volume Advance/Decline
DJIA    10240.29 + 20.95 10266.61 10199.29 1.61 bln   1704/1086
NASDAQ   1966.08 +  2.65  1976.92  1960.78 1.75 bln   1394/1596
S&P 100   544.25 +  0.92   546.23   542.46   Totals   3098/2682
S&P 500  1118.33 +  2.12  1122.37  1114.92
RUS 2000  572.03 -  0.38   575.84   571.49
DJ TRANS 3150.08 + 33.59  3151.55  3116.45
VIX        15.81 -  0.44    16.47    15.59
VXO        15.75 -  0.42    16.37    14.50
VXN        22.26 +  0.15    22.39    21.89
Total Volume 3,655M
Total UpVol  1,975M
Total DnVol  1,552M
52wk Highs     153
52wk Lows      156
TRIN          0.92
PUT/CALL      0.99
===============================================================

===========
Market Wrap
===========

Coming and Going
Jonathan Levinson

It was a laborious session that ended with light gains for the
Nasdaq, Dow and S&P, but at least the indices didn't break to new
lows.  Key support levels were tested and held, but the daily
picture does not look encouraging for bulls in the short term.

The action of the past month has succeeded in whipping both bulls
and bears in both directions.  Abby Joseph Cohen's bullish call
on the markets last week, preceding a precipitous drop by mere
hours, was countered today by Morgan Stanley's Rick Bensignor who
said that he sees the "most significant selloff" yet to come for
the year, based on the technicals.  We don't need to take
anyone's word for it, however- here are the charts:


Weekly Dow Chart


The weekly Dow candles are at the root of the ambiguity, with the
action off the year high printing either a bull wedge, a neutral
pennant or a complex top.  That's beyond useless, but it's also
the most accurate description of what I see on a pattern basis.
On a sentiment basis, we've seen record lows in Nasdaq and
Nasdaq-100 volatility, nearly 10-year lows in OEX volatility, and
very strong bullish optimism.  However, we've also seen very high
sustained put-to-call readings.  To compound the uncertainty, I
defy anyone to give me a definitive read on the weekly
oscillators here-  are they in downphase or upphase?  Once again,
the picture is ambiguous.  We've seen in recent months that when
in doubt, particularly within a range, smart traders don't force
trades.  Unless you're strongly persuaded against one side of the
this market or the other, it's safer to wait for a high volume
break of either 10500 to the upside or 9900 to the down, or to
play for reversals at those levels with stops just beyond.  The
rising support line at 10200 narrows that range considerably,
providing a higher support level to play.


Daily Dow Chart


The Dow's daily range managed to touch the upper and lower
pennant trendlines at 10266 and 10199.  Above that level is stiff
resistance from 10320-10350, and given the shape of the daily
cycle oscillators in their current bear roll, it's unlikely that
we'll see a serious challenge to that upper range without more
downside first.  Below 10200, next support is at 10100, followed
by 10060-80.


Weekly Nasdaq Chart


The same ambiguity is present on the weekly Nasdaq- bull flag,
neutral pennant or complex top- but with the pullback of the past
two weeks retesting the pennant apex in what is now a commonplace
false pennant breakout.  The oscillators are equally uncertain
here, and the working range is 1900-2025.


Daily Nasdaq Chart


The Nasdaq found support today at 1960, failing below the
descending daily trendline at a high of 1977.  The low came right
on what appears to be support on a descending triangle, and any
print below 1960 should see a move to the 1935 level.  I've
highlighted a bearish divergence between the higher price high
since early June and the lower 10-day stochastic peak, which
portends that a break of that 1960 support could do some downside
damage.

Putting it all together, we see more weakness in the shorter
daily timeframes than in the weekly, and for that reason we can
expect uncertain chop as the shorter timeframes seek longer term
direction.  The first extended move should be determinative, and
the move from last week's highs qualifies.  I'm not bullish here,
but the lack of clarity on the weekly charts is telling me to
keep an open mind either way.

The Mortgage Bankers Association reported that the Market Index
of mortgage loan applications 19.5% to 687 on a seasonally
adjusted basis from 575 the previous week.  On an unadjusted
basis, the index was higher by 19.2 but lower by 34.1% year-over-
year.   The Refi Index, with refinancings accounting for over 1/3
of all mortgage activity, rose 27.6% from the previous week,
while the government index rose 9.7%.  The average interest rate
for a 30-yr fixed-rate mortgages was down to 5.96% from 6.21% in
the previous week.

I've attached a weekly chart of 10-yr note yields (TNX).  The
downtick in rates over the past month should correlate with
continuing increases in the level of mortgage activity.  If this
cycle continues to dominate, mortgage bankers can look forward to
several more weeks of increased business.


Weekly TNX Chart


The International Council of Shopping Centers reported that
chain-store sales for the most recent week rose 0.9%, correcting
part of the previous week's 1.2% loss. This level is up 4.4% y-o-
y, but the ICSC warned that this y-o-y gain has been
deteriorating since earlier in June.  Caution seems to be the
ongoing theme in the retail sector, with WMT warning last week,
and continued concerns about the amount of consumer exposure to
debt and wage deflation.

The Treasury Department auctioned $15 billion in 5-yr notes on at
an average yield of 3.663%, generating a bid-to-cover ratio of
2.33.  Bonds were slightly higher for the day, with the ten year
note yield declining 0.8 basis points to close at 4.472%.

The morning opened bleakly with a warning from PSFT about Q2's
earnings and revenue, which are now expected at 13-15 cents per
share from the previous 21 cents.  Revenue is expected between
655M - 665M, down from 689.3M.  Despite its morning drop PSFT
recovered later in the session to close higher by 1.66% at 17.10.
EBAY got whacked on a downgrade of the entire internet sector by
Prudential to neutral weight from overweight (does that mean hold
or sell?).  Prudential noted that EBAY's overall auction listing
growth has been slowing.  The stock closed lower by 3.31% at
86.87.  China internets were also lower on a warning from NTES
based on weaker than expected sales from its wireless and other
fee-based operations.  The entire sector was lower today, with
the INX lower throughout the day to close at 188.32.

In other news, UAL reported that its load factor reached rose 4%
to 86% in June, the highest in its history. Traffic increased
almost 17% to 10.6M revenue passenger miles from 9.1 million
miles year-over-year.

NITE got smoked for more than 5% after warning that Q2 would fall
short of expectations, lowering its range to 6-11 cents per share
from 15 cents.  The broker dealer blamed the miss on low
volatility and volume in equity and options, as well as a 79M
charge attributable to the settlement of SEC and NASD
investigations.  CEO Thomas Joyce said that "The trio of rising
rates, higher oil prices and an unstable Middle East worked to
keep investors, both retail and institutional, on the sidelines."
For the day, the XBD fell to a 9 month low, losing 2.04% to close
at 120.19.

The Department of Energy reported that it expects crude oil
prices to remain high through 2005, based on low inventory levels
and persistent demand.  The DOE said:  "The chances for even a
gradual, sustained decline in crude oil prices through 2005, as
previously projected in this outlook, seem to have diminished.
Low world oil surplus capacity levels provide an extremely
limited cushion in the event of unexpected world oil market
disruptions." Despite these comments, crude oil futures were
lower throughout the day on confirmation from Ali-al-Naimi, Saudi
Arabia's oil minister, that OPEX would honor its stated intention
to up its quota by 500,000 barrels.  In the grand scheme of
things, that's a minor increase, but increased supply and the
consistency from OPEC's earlier announcements coincided with
short term overbought conditions after this week's strong runup
to generate a 1.44% decline in front-month crude oil futures by
the end of the day.

Federal Reserve Vice Chairman Roger Ferguson manned the bullhorns
in the afternoon, warning investors that the strong gains in US
productivity during past two years is unlikely to continue, but
that productivity should remain above average as new technologies
are deployed.  He noted that the economic data indicate a
pullback from last year's pace, and that while lower productivity
gains could spike employment labor costs and harm profit margins,
such threats to inflation are premature.

Gold was sharply higher, rocketing in the morning and holding its
gains for the session.  Bloomberg attributed the gains to
concerns over the banking situation in Russia.  While there's
uncertainty over the extent of the problem, the Canadian Press
reported that Russian Central Bank chairman Sergei Ignatyev was
reassuring the country that the sector was sound.   The state-
owned Vneshtorgbank is in negotiations to buy Guta Bank, which
bank suspended operations yesterday as clients arrived to find
suspension notices covering the doors of their branches.  Word
was of a liquidity crisis, affecting this and other smaller
banks, and the response today was to slash reserve requirements
from 7% to 3.5%.  Gold rose above 402, making its largest gain in
13 months.

After the bell, AA reported net earnings of 46 cents per share,
missing estimates by a penny, and income of 404M, up 86% from
$217 y-o-y. YHOO reported earnings inline with estimates at 8
cents per share for Q2, more than doubling to 113M from the
previous 51M.  Sales rose to 609M, missing estimates by 1M.  YHOO
got smoked following the release, spiking down 14.5% to 28.45 as
of this writing.  AA was lower as well despite its positive
report.

DNA reported Q2 revenues of 1.128B, up from 799.7M, earning 19
cents per share and meeting expectations.  Net profit was 170M or
16 cents per share, up from 132.3M or 13 cents per share last
year.  The stock was lower by .29% at 54.50 as of this writing.

We await initial claims for the week ending July 02 tomorrow,
estimated at 345K and down from 351K in the prior week, as well
as consumer credit for May to be released at 3PM, est. 7.5B.
Based on the terrible reception of the earnings reports after the
bell, the configuration of the daily indicators and Abby J-C's
bullish call from last week, I'm bearish here, but keeping an
open mind due to the ambiguity of the weekly indicators.  If in
doubt, exercise patience, and whatever you do, do it with stops.
The markets could well gap below today's support at tomorrow's
open, and if so shorts can use today's closing prices as a
reference for the placement of stops.


==================================================================
WATCH LIST
==================================================================

The PremierInvestor.net watch list is not designed to be read
as full fledged stock picks.  Rather we would prefer to offer
it as an extra tool in today's investor toolbox.  Think of it
as a radar screen with your own radar operator pointing out
interesting developments, technical patterns or potential plays
that you may or may not have seen on your own.  Due to time
constraints we do glance at the news but rarely do we have
time to fully read pertinent news stories, due background
research and other necessary screens that investors should do
before making a decision.  A common exercise is to read the
entry, glance at the sector and other stocks in that industry
and then compare what's happening in the stock to what's
happening in the broader market indices.  We hope you enjoy
the Watch List and that it proves to be a useful tool for your
own trading success.

STOCKS WORTH WATCHING
---------------------------------

Brokers, Miners, Oil and more

A.G.Edwards - AGE - close: 32.61 change: -0.37

WHAT TO WATCH: The entire brokerage sector has been slipping on
concerns about higher interest rates and the reality of lower
trading volumes.  The weak trading volumes we've experienced over
the last few weeks directly affect the bottom line.  The sell-off
in AGE during the last two weeks has been fueled by big volume
indicating some serious doubts from investors.   The breakdown
under $34.00 looks good for the bears and the stock has produced
an impressive quintuple-bottom breakdown on its P&F chart that
currently points to a $27 target.  AGE looks a little oversold
here so we'd watch for a bounce and a failed rally in the $33-34
region and then initiate bearish plays.




---

Pan American Silver - PAAS - close: 14.48 change: +0.69

WHAT TO WATCH: We strongly considered adding PAAS to the play
list tonight.  The rebound in the mining stocks and the 4% rally
in the XAU gold & silver index over resistance at the 90 level
looks pretty good.  PAAS broke through resistance at its 200-dma
two days ago and broke through resistance at the $14.00 mark
today.  Volume was above average and shares look poised to run
toward the $18-19 region.  Unfortunately, there are potential
hurdles at the simple 100-dma (15.05) and the $16.00 level.




---

Teekay Shipping - TK - close: 38.00 change: +0.90

WHAT TO WATCH: Oil stocks have been drawing a lot of attention as
crude oil climbs back toward the $40 per barrel mark.  One way to
play oil is the tankers.  TK operates a fleet of tankers and you
can bet business is booming.  The stock is near new highs and
poised to make more.  Shares managed a 2.4% gain today despite
Morgan Stanley reiterating their "under weight". Another stock to
look at in the tanker industry is Knightsbridge (VLCCF).




---

Rogers Corp - ROG - close: 65.74 change: +0.70

WHAT TO WATCH: Shares of ROG have been consistently marching
higher since its big rally in early October 2003.  The stock has
been such a steady performer that investors have been using dips
to the 40 or 50-dma as an entry point to load up again.  ROG is
once again near its 40-dma.  Bulls can look for a rebound higher
and target the recent highs or the top of the channel. Bears can
watch for a breakdown through the 50-dma and/or the $62.00 region
(watch out for potential support at $60.00).





==================
  Trading Ideas
==================

This section contains stocks that meet criteria which may make
them of interest to long and short side traders.  These are not
recommendations, nor have they been reviewed by PremierInvestor
editors for investment potential.  However, each of them has
technical and fundamental characteristics that make them worthy
of further review by traders and investors looking for fresh ideas.
New stocks will appear daily following the market close.

Value Plays With Bullish Signals
---------------------------------
Ticker  Company Name               Close     Change

SI      Siemens Aktien             70.50    +0.79
PTR     Petrochina Co Ltd (ADS)    48.22    +1.04
TOT     Total Sa (ADS)             98.00    +0.85
RD      Royal Dutch Petrol         52.13    +0.52
FNM     Fannie Mae                 71.69    +1.18
BAC     Bank of America Corp       84.23    +0.57


---------------------------------------
Breakout to Upside (Stocks $5 to $20)
---------------------------------------

DPTR    Delta Petroleum Corp       15.00    +1.05


---------------------------------------
Breakout to Upside (Stocks over $20)
---------------------------------------

SYK     Stryker Corp               57.33    +1.17
LMT     Lockheed Martin Corp       53.04    +1.24
BF      BASF Ag (ADS)              54.56    +1.31
NEM     Newmont Mining Corp        41.12    +1.73
BMET    Biomet Inc                 48.90    +2.15


-------------------------------------------
Breakout to Downside (Stocks over $20)
-------------------------------------------

MER     Merrill Lynch & Co         51.11    -1.41
GCI     Gannett Co Inc             81.10    -1.85
OMC     Omnicom Group Inc          69.85    -3.05
PGN     Progress Energy            43.15    -1.05
SSP     E. W. Scripps Company     103.91    -1.53


-----------------------------------------
Recently Overbought With Bearish Signals (Stocks over $20)
-------------------------------------------

MMC     Marsh & Mclennan Cos Inc   44.45    -0.51
MRO     Marathon Oil Group         37.09    -0.74
BSC     Bear Stearns Companies     83.55    -0.93
AMLN    Amylin Pharmaceuticals     22.25    -0.39
CSL     Carlisle Companies Inc     60.26    -0.53


=================================================================
To stop receiving this PremierInvestor.net Newsletter,
send email to Contact Support
=================================================================
DISCLAIMER
=================================================================

This newsletter is a publication dedicated to the education
of stock traders. The newsletter is an information service
only. The information provided herein is not to be construed
as an offer to buy or sell securities of any kind. The
newsletter picks are not to be considered a recommendation
of any stock but an information resource to aid the investor
in making an informed decision regarding trading in stocks. It
is possible at this or some subsequent date, the editors and
staff of PremierInvestor.net may own, buy or sell securities
presented. All investors should consult a qualified professional
before trading in any security. The information provided has
been obtained from sources deemed reliable but is not
guaranteed as to accuracy or completeness. PremierInvestor.net
staff makes every effort to provide timely information to its
subscribers but cannot guarantee specific delivery times due to
factors beyond our control.

Please read our disclaimer at:
http://www.optioninvestor.com/page/oin/aboutus/disclaimer.html

*****************************************************************
ADVERTISING INFORMATION

For more information on advertising in PremierInvestor.net
Newsletter, or any Premier Investor Network newsletter please
contact Contact Support.

*****************************************************************


Copyright 2004  PremierInvestor.net. and
The Premier Investor Network.
Do not duplicate or redistribute in any form.





PremierInvestor.net Newsletter                Wednesday 07-07-2004
                                                    section 2 of 2
Copyright (c) 2004, All rights reserved.
Redistribution in any form is strictly prohibited.

The entire newsletter is best viewed in COURIER 10 for alignment
=================================================================

In section two:

Stop Loss Adjustments:  BORL, IMOS, SOHU

Net Bulls (Tech Stocks)
  New Bearish Plays:    ASKJ


Active Trader (Non-tech Stocks)
  New Bullish plays:    SWC


High Risk/Reward
  New Bullish plays:    TWTC


==================================================================
Stop Loss Adjustments
==================================================================

BORL - tech short play -
 Lower stop from $8.11 to $8.01

---

IMOS - high risk/reward short -
 We are TRIGGERED at $6.50 on today's 8.57% decline.
 Lower stop from $8.50 to $8.00.

---

SOHU - high risk/reward short -
 We have achieved our TARGET in the $16.00 region
 with today's intraday drop to $15.59.  We're going to
 set an OFFICIAL exit price at $15.25 on the expectation
 that YHOO's disappointment will keep the pressure on
 Internet stocks.  If SOHU trades at or below $15.25 we'll
 exit.   In the mean time we're going to try and protect a
 large chunk of SOHU's decline by lowering our stop loss
 from $18.41 to $17.11 (just over today's high).


==================================================================
Net Bulls (NB) Tech Stock section
==================================================================

---------
New Plays
---------


  New Bearish Plays
  -----------------

Ask Jeeves - ASKJ - close: 34.42 change: -1.04 stop: 35.01

Company Description:
Ask Jeeves, Inc. provides consumers and advertisers with
information retrieval products across a diverse portfolio of Web
sites, portals and desktop search applications. Ask Jeeves'
search and search-based portal brands include: Ask Jeeves
(Ask.com and Ask.co.uk); Ask Jeeves for Kids (AJKids.com); Excite
(excite.com); iWon (iwon.com); My Search (mysearch.com); My Way
(myway.com); My Web Search (mywebsearch.com) and Teoma
(teoma.com). Ask Jeeves also owns the search technology Teoma,
proprietary natural language processing technology, as well as
portal and ad serving technologies. In addition to powering
several of the Ask Jeeves brands, the Company syndicates its
technologies to help companies increase revenue through powerful
search. Ask Jeeves' advertising services, which includes Ask
Jeeves, The Excite Network, and MaxOnline, provides advertisers
with targeted tools to reach a broad base of highly valuable
customers. Ask Jeeves, Inc. is headquartered in Emeryville,
California, with offices throughout the United States, as well as
in London, Dublin, and Tokyo. (source: company press release)

Why We Like It:
A little late to the party?  Maybe, but we can still have a good
time!  We're adding ASKJ to the play list now that we no longer
need to worry about YHOO's earnings as a potential hazard.  In
reality YHOO's earnings are just the sort of catalyst bears are
happy to have.  This morning the entire Internet sector was
downgraded by Prudential to "neutral".  The Chinese Internets
continued their wave lower on a revenue warning from NTES while
YHOO's pre-earnings jitters weighed on AMZN and EBAY.  Yes, it
was a bad day all around for Internet stocks.  Expectations for
YHOO's after market earnings report were pretty high so it's no
surprise that they disappointed and it's no surprise that the
stock and the rest of the Internets are trading lower on the
news.  Yes, YHOO met the 8-cent estimate but just barely missed
the revenue number and guided somewhat lower for their Q3
revenues.  Traders reacted in the usual fashion and sent YHOO
careening lower in after hours trading.

We expected ASKJ to open lower tomorrow as well.  A move under
the simple 100-dma is what we're looking for to produce a
technical breakdown and pave the way for a move toward its 200-
dma near $27.50.  Here's the plan.  We expect ASKJ to open in the
$33.00-$32.00 range.  If it does, then we'll initiate the short
with a stop loss at $35.01.  If ASKJ opens below $32.00 then step
back - we will NOT open the play.  Short-term traders can target
$30.00.  We're going to target the $27.50.  Long-term traders can
target the bearish P&F target at $22.00.  Earnings are expected
on July 28th.  We do not plan to hold over the report.

Remember - Look for ASKJ to open between $33-32.  Only then will
we initiate the play.

!Alert! ASKJ is liable to be volatile and thus carries a higher
degree of risk.  Use caution.

Annotated Chart:




Picked on July 07 at $00.00 <-- see TRIGGER
Gain since picked:   - 0.00
Earnings Date      07/28/04 (confirmed)
Average Daily Volume:   3.9 million




==================================================================
Active Trader (AT) Non-Tech Stock section
==================================================================

---------
New Plays
---------


  New Bullish Plays
  -----------------

Stillwater Mining Co - SWC - close: 16.05 chg: +0.79 stop: 14.95

Company Description:
Stillwater Mining Company is the only U.S. producer of palladium
and platinum and is the largest primary producer of platinum
group metals outside of South Africa. (source: company press
release)

Why We Like It:
We decided to look through the gold, silver and mining stocks
after seeing the 4% rally in the XAU gold & silver index on
Wednesday.  A number of mining stocks have been doing well as
demand rises for their products with the improving global
economy.  Gold and precious metal stocks are doing well as
investors look for "safe haven" plays during stock market
weakness.  We like SWC for its push through the $16.00 level and
its very bullish P&F chart.  The P&F chart has produced an
ascending triple-top breakout buy signal that points to a $32
target.  Our target is a bit closer at $18.00.  We plan to
protect ourselves with a stop loss at $14.95.  More conservative
traders may want to use a trigger over today's high at $16.25.
We're happy to consider positions at current levels.  Earnings
are estimated on or about July 30th but that's unconfirmed.

There are several other mining stocks that drew our attention and
look like decent bullish candidates.  Check them out: NEM, STLD,
and PAAS.

Annotated Chart:



Picked on July 07 at $16.05
Gain since picked:   + 0.00
Earnings Date      07/30/04 (unconfirmed)
Average Daily Volume:   630 thousand




==================================================================
High Risk/Reward (HR) Stock section
==================================================================

---------
New Plays
---------


  New Bullish Plays
  -----------------

Time Warner Telecom - TWTC - close: 4.63 change: +0.56 stop: 4.29

Company Description:
Time Warner Telecom Inc., headquartered in Littleton, Colo., is a
leading provider of managed network solutions to a wide array of
businesses and organizations in 44 U.S. metropolitan areas that
require telecommunications intensive services. One of the
country's premier competitive telecom carriers, Time Warner
Telecom integrates data, dedicated Internet access, and local and
long distance voice services for long distance carriers, wireless
communications companies, incumbent local exchange carriers, and
such enterprise organizations as healthcare, finance, higher
education, manufacturing, hospitality, state and local
government, and military. (source: company press release)

Why We Like It:
We admit that this is pure speculation.  Normally we would not
chase a 13.75% move, especially in a stock like TWTC.  However,
after two months of consolidating sideways off its lows the stock
has finally pushed through technical resistance at its 40-dma and
the 50-dma in the last couple of weeks.  Now TWTC has climbed
through resistance in the $4.40-4.50 range on volume 60% above
average.  We suspect that TWTC could have enough momentum to
reach its simple 100-dma near $5.38.  We're going to target a run
to $5.30-5.35 and use an initial stop loss at $4.29.  Earnings
are due on July 27th.   Use high-risk capital only!

FYI: Don't be surprised to see TWTC trade back toward the $4.50
level tomorrow.  It could be used as an entry point.

Annotated Chart:



Picked on July 07 at $ 4.63
Gain since picked:   + 0.00
Earnings Date      07/27/04 (confirmed)
Average Daily Volume:   985 thousand




=================================================================
To stop receiving this PremierInvestor.net Newsletter,
send email to Contact Support
=================================================================
DISCLAIMER
=================================================================

This newsletter is a publication dedicated to the education
of stock traders. The newsletter is an information service
only. The information provided herein is not to be construed
as an offer to buy or sell securities of any kind. The
newsletter picks are not to be considered a recommendation
of any stock but an information resource to aid the investor
in making an informed decision regarding trading in stocks. It
is possible at this or some subsequent date, the editors and
staff of PremierInvestor.net may own, buy or sell securities
presented. All investors should consult a qualified professional
before trading in any security. The information provided has
been obtained from sources deemed reliable but is not
guaranteed as to accuracy or completeness. PremierInvestor.net
staff makes every effort to provide timely information to its
subscribers but cannot guarantee specific delivery times due to
factors beyond our control.

Please read our disclaimer at:
http://www.optioninvestor.com/page/oin/aboutus/disclaimer.html

*****************************************************************
ADVERTISING INFORMATION

For more information on advertising in PremierInvestor.net
Newsletter, or any Premier Investor Network newsletter please
contact Contact Support.

*****************************************************************

Copyright (c) 2004  PremierInvestor.net. and
The Premier Investor Network.
Do not duplicate or redistribute in any form.


DISCLAIMER

Option Investor Inc is neither a registered Investment Advisor nor a Broker/Dealer. Readers are advised that all information is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor is it to be construed as a recommendation to buy, hold or sell (short or otherwise) any security. All opinions, analyses and information included herein are based on sources believed to be reliable and written in good faith, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. In addition, we do not necessarily update such opinions, analysis or information. Owners, employees and writers may have long or short positions in the securities that are discussed.

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